Accord Asset Partners, working together with Paras Capital Partners, has announced the successful completion of its acquisition of WestStar Physical Therapy Network. WestStar is a provider of physical therapy services based in Southern California, with a strong focus on helping patients recover from workplace injuries and automobile accidents. The company partners with a network of clinics to deliver specialized care tailored to the needs of these patients, often involving targeted rehabilitation programs and coordinated treatment plans.
This milestone marks a significant step forward for WestStar. The recapitalization will provide the financial resources and strategic backing needed to strengthen its presence in Southern California while also laying the groundwork for expansion into other states. A key part of this growth strategy will be increasing the number of managed network clinics, enabling WestStar to serve more patients and build stronger relationships with healthcare providers across a wider geographic area.
By combining WestStar’s expertise in injury-focused rehabilitation with the operational and financial support of Accord Asset Partners and Paras Capital Partners, the company is positioned to accelerate its growth and enhance access to high-quality physical therapy services. This partnership reflects a shared vision of expanding care options for patients and creating a stronger, more connected network of clinics that can meet the needs of communities both locally and beyond.
Advisors/counsel: Katten Muchin Rosenman provided legal counsel to Accord and Paras. Provident Healthcare Partners acted as WestStar’s investment banking advisor, Husch Blackwell served as legal counsel to WestStar, and Polen Capital provided senior debt financing for the acquisition of WestStar. The terms of the transaction were not disclosed.
KEY QUOTES:
“Accord and Paras have extensive healthcare investing and operating expertise and are perfectly suited partners to help us scale WestStar and continue providing quality physical therapy services that get our patients back to regular activity after injury.”
Geoff Sundstrom, CEO of WestStar Physical Therapy Network
“We are thrilled about our investment in WestStar and look forward to working alongside Geoff and the management team to build upon Weststar’s 40 year history of growth.”
Kevin Webb, Managing Partner at Accord
“We’re proud to have represented WestStar in its partnership with Accord and Paras. Geoff and his team have built one of the leading networks of workers’ compensation and auto-injury focused physical therapy clinics in Southern California. With Accord and Paras, WestStar has the resources and expertise to broaden its reach across California and into new states, and we look forward to following their continued success.”
Jake Vesely, Director at Provident Healthcare Partners
